Major Donors Abandon RNC; Debt Soars

More than 600 major donors abandoned the Republican National Committee in the run-up to the 2010 midterm elections, leaving it $20 million in debt. Individual donors kicked in just $7 million compared to $43 million in 2006, an analysis by The Washington Post found.

As a result, the RNC finds itself in the worst financial shape in 35 years while the Democratic National Committee is making great strides in fundraising. The DNC pulled in three times more money from major donors during the midterms in 2010 than they did in 2006 for a total of $38 million, the Post analysis of information from the Center for Responsive Politics found.

Washington lawyer and RNC contributor John Dowd told the Post, "You can't even dream of winning in 2012 with that kind of operation. As long as it's in that kind of shape, I can't even think of giving." Dowd passed on making contributions because of the disarray in the RNC.

Some of the donors who abandoned the RNC chose instead to give their money to conservative groups such as American Crossroads. Dowd, who had given $50,000 to the RNC in recent years, sent $15,000 to American Crossroads before the midterms, the Post said.

RNC Chairman Michael Steele (pictured), who is seeking another term, has been severely criticized for this lack of fundraising and for his spending. RNC members vote today on whether to replace Steele.

More than 600 major donors abandoned the Republican National Committee in the run-up to the 2010 midterm elections, leaving it $20 million in debt. Individual donors kicked in just $7 million compared to $43 million in 2006, an analysis byThe Washington Post found.As a...